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One famous ETF is Spdr, which tracks the US S&P 500.
According to Spdr, each share is worth 0.095599 gold ounces(net asset value,
called NAV).
The Spdr ETF currently holds approximately 9,600 ounces,
while the iShares ETF has some 5,300.
One of the reasons for buying a Spdr is that it is often(though not always)
a quick and easy way to have significant diversification.
State Street Global Advisors- the firm that created the first U.S.-listed exchange-traded fund(ETF)
back in 1993 and the Spdr ETF family-
manages a portfolio of the following 11 sector-based ETFs:.
For example, the returns of a Spdr is calculated using net asset value(NAV),
just like a fund, which is derived using the aggregate value of the underlying group of investments.